Wisdom from Seth Klarman

by Dah Hui Lau (David)

Excellent compilation on Seth Klarman’s thinkings and principles. Many thanks to Distressed Debt Investing for the sharing.

Wisdom from Seth Klarman – Part 1

Seth Klarman and Baupost are in the news lately regarding the CIT Group Inc (CIT) bailout. While I do not want to delve into specifics, I will say that, outside the chance of fraudulent transfer / conveyance / some other quirky bankruptcy ruling dealing with the rescue financing, I would buy the new L+1000 loan (3% floor) all day long…especially if I was getting a 5 point advance fee. Currently in the grey market (when-issued) it is trading at 104-105 without the fee.

As we have not discussed Klarman or Baupost in the past few months, I thought I would take a few moments to pull out some of the more educational quotes from his fund letters through 2004-2007 (note: I do not have the fund letter from 2008…just the portions that were posted in a recent issue of Value Investor Insight).

Click here for the full story.

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One Response to Wisdom from Seth Klarman

  1. Hello administrator I be happy along with your article . might i copy this know-how being my educate check ? thanks

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